This week marks a full year since the start of the $2500 account challenge and it ended with success despite a bloody red market. With the US and China agreeing to a pause in additional tariff increases until an agreement can be reached within 90 days, the market staged a nice gap up on Monday punching through the 50 and 200 daily moving averages pre market only to fall by the day's end. On Tuesday the selling continued heading into Wednesday, a day or mourning in which the markets closed. Thursday was the first TRUE attempt to lift he market once more with huge buying volume after a
Weekly Profit Recap
The market decided to stop going down this week as the G20 summit took place towards the end of the week. This gave us an opportunity, despite being questionable, to find good Launch List candidates throughout. The tug of war between buying and selling remained strong and it was critical to stay nimble. We took profits when needed well below the profit target to extract as much wins as possible. In some cases this saved some of the launches, but in other cases it was profit taken too early. What matters at the end of the day if we continue to push higher and in the grad scheme of thing
11/16 Weekly recap. After a lot of chop and limited launches, this ended up being another red week. Most of the week the nightly scanners didn't show any possible candidate and the ones that made it did not work very well. Overall there were 9 Launches, 3 winners $VSI $PDCO $JELD, 6 Losers $GHL $UNFI $VSI
This week the market remains in no man's land failing to propel back up, but at the same time failing to break down below recent lows. The trend is most definitely to the downside as technical damage has been done to all the major indices. However, there are expected to be bounce days that decelerate the downtrend, and shake out the occasional weak short sellers. Overall, it makes it tough as a long biased trade to hold onto any sizable gains.
With a transition week between the months of October and November, we saw one impressive reversal. October has been no doubt a challenging month, with a lot of technical damage done to the major indices. We suffered three consecutive loosing weeks which was a first for the Launch List process. It's difficult to pin point one root cause for the decline, but one thing for sure appears to be a sensitive issue and that is the trade war with China coupled with the Federal Reserve talking about a continuous increase in interest rates even is they overshoot the optimal levels. As soon as we go
What a fantastic week this has been. We hit the largest single weekly profit since the start of the $2500 challenge. We also crossed another key milestone of $125K. There were a total of 22 launches making this another busy week . As some of you may know, we are in the process of developing an automated tool to trade our launch list automatically and expect this to be in validation for the next several weeks. This should make managing the Launch list more smooth and less emotional.
The weekly profit for the portfolio has been going up steadily and this week was a solid profitable one. We hit a significant milestone by crossing and holding the $100K mark. This was also a very busy week as we had 27 Launches with the nightly overnight scanners showing good opportunities. If you trade during the day however, it would seem that the market is on vacation with the lack of volume and volatility. Nevertheless, we plan the night before and act on those plans accordingly.